Mol­son Coors to build new Mon­treal brew­ery

The Guardian (Charlottetown) - - BUSINESS -

MON­TREAL — Mol­son Coors plans to spend up to $500 mil­lion to build a new Mon­treal brew­ery in­stead of mod­ern­iz­ing its 231-year-old fa­cil­ity along the St. Lawrence River. The brewer’s de­ci­sion, which fol­lows a two-year study, was an­nounced to em­ploy­ees on Wed­nes­day.

The lo­ca­tion of the new brew­ery hasn’t been an­nounced. Mol­son Coors Canada CEO Fred Landt­meters says build­ing the new brew­ery will be more ef­fi­cient than up­dat­ing the ex­ist­ing op­er­a­tions. The brewer (TSX:TPX.B) plans to main­tain a mi­cro­brew­ery and sales venue at the his­toric site near Old Mon­treal, with the rest be­ing sold for re­de­vel­op­ment un­der the aus­pices of the city. Mol­son Coors sold its op­er­a­tions in Van­cou­ver last year. The com­pany will con­tinue to pro­duce beer at that site for up to five years while it builds a new fa­cil­ity in Chilli­wack, B.C.

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